Oswald Odd consumes only goods 1 and 2.His utility function is U(x₁, x₂)  x₁  x₂  minx₁, x₂.Each of Oswald's indifference curves is

A) L-shaped.
B) made up of three line segments with slopes 2, 1, and 1/2.
C) made up of two line segments with slopes 2 and 1/2.
D) is smooth and has no kinks.
E) is a diamond-shaped figure consisting of four line segments.

Utility Function

A mathematical representation of how different combinations of goods or services can provide different levels of happiness or satisfaction to a consumer.

Indifference Curves

A graph that represents combinations of goods among which a consumer is indifferent, showing different levels of utility.

L-shaped

Often used to describe demand or recovery curves that have a rapid decline followed by a period of stagnation.